EX-12 2 c06382exv12.htm EXHIBIT 12 Exhibit 12
Exhibit 12
AMERCIAN FINANCIAL GROUP, INC. AND SUBSIDIARIES
EXHIBIT 12 — COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
(Dollars in Millions)
                 
    Nine Months Ended     Year Ended  
    September 30, 2010     December 31, 2009  
Operating earnings before income taxes
   $ 513     $ 813  
Undistributed equity in losses of investee
     2       2  
Losses of managed investment entities attributable to noncontrolling interest
     37       —  
Fixed charges:
                
Interest on annuities
     340       435  
Interest expense
     57       67  
Debt discount and expense
     1       1  
Portion of rentals representing interest
     10       13  
 
            
 
                
EARNINGS
   $ 960     $ 1,331  
 
            
 
                
Fixed charges:
                
Interest on annuities
   $ 340     $ 435  
Interest expense
     57       67  
Debt discount and expense
     1       1  
Portion of rentals representing interest
     10       13  
 
            
 
                
FIXED CHARGES
   $ 408     $ 516  
 
            
 
                
Ratio of Earnings to Fixed Charges
     2.35       2.58  
 
            
 
                
Earnings in Excess of Fixed Charges
   $ 552     $ 815